A New Jersey County is claimed to be token with the worth of $ 240 billion, after signing a contract with the Blockchain-Backed Land Record Management company Balcon.
On May 28, Balcony said that it signed a five-year contract with the district mountain district's office in Bergen to token 370,000 acts within the Avalanche Blockchain, and added that this was “the biggest blockchain-based Ted tokenization project in US history.
Bergen County is New Jersey's most populous county and is situated northwest of Manhattan in New York City over the Hudson River. Bergen County has almost 1 million inhabitants and achieves annual property tax revenue of around 500 million US dollars.
@Balconytech costs 240 billion USD in real estate.@Balconytech works with mountains County and a number of other other NJ communities to digitize real estate records, and Avalanche is powered.
This is the largest initiative for the blockchain certificate within the history of the United States. pic.twitter.com/aei0t5nffp
– Avalanche🔺 (@avax) May 28, 2025
The deal was supported by Blizzard, a risk capital fund based on avalanches.
Balcony said the Bergen County project will enable a manipulation -safe, sought -after title chain in all 70 communities.
Source: balcony
Balcon expects the mixing to cut back the processing times of the documents by over 90% and reduce the danger of fraud, title disputes and administrative errors.
Dan Silverman, CEO of balcony, said the project was a “turning point” for presidency record systems and real estate.
“We show how securely distributed systems replace outdated infrastructure and offer the worth of real value for governments and the general public.”
Balcony plans the expansion in New Jersey and beyond
Balcony said it worked with several other counties in New Jersey – including Camden, Orange and Cliffside Park – to modernize their real estate management records.
It is claimed that Orange County has lost almost 1 million US dollars of municipal income because of incomplete and outdated records throughout the current management system, which emphasizes the necessity for a simpler solution.
The tokenization of 370,000 ownership certificates within the Bergen district brings the overall variety of tokenized documents in New Jersey to around 460,000.
Balcony said it intended to expand beyond New Jersey in the longer term.
